Remodeling VS Selling As-Is
There are several ways to handle a property you’re ready to part with. Homeowners can choose to become landlords or pursue remodeling and listing or selling as-is. Which one you choose depends on what you need out of the transaction, and how much time you’re willing to invest.
For many sellers, taking the time to remodel a home before listing can increase the value of the property, making the sale more profitable. These types of improvements can also help a listed house sell faster – an advantage in a process that can take months to finalize.
Simple modifications such as updating a kitchen or bathroom with paint, light fixtures, and new hardware are quick, easy ways to spruce up a home. However, many properties need more in-depth updates, such as replacing the floors and countertops or require expensive repairs to the roof, foundation or structural elements.
Sellers must be patient because this process takes time. Be sure to keep the receipts for any completed work, especially for jobs with warranties. The home will need to be de-cluttered and cleaned thoroughly. Listing your newly remodeled home will require an agent to handle the sale and negotiation with potential buyers.
If you decide to undertake the remodeling yourself, you’ll need to collect bids from multiple contractors to ensure you get the best deal. Verify that any company you hire has an active license and current insurance. Reading reviews from other customers and looking through pictures of previous jobs can help you evaluate the quality of a company’s workmanship.
Many sellers find that their homes need extensive updates or repairs and aren’t interested in investing their time and money before the sale. Others need to rid themselves of a home quickly and don’t have the time that sort of work requires. In these situations, selling As-Is can be a useful tool.
Unless the property is exempt, such as with an inherited home, selling As-Is still requires full disclosure of any issues or necessary repairs. Paying for an inspection will save time down the road by allowing you to list all known issues confidently. This confidence will enable buyers to know up-front what they are dealing with, and result in a more efficient sale.
We Can Help!
Even if your home needs serious repairs, don’t fret! Whitestone Acquisitions specializes in buying properties As-Is. If you have a vacant property costing you money or want to sell your current home fast, visit whitestoneacquisitions.com and fill out the simple form to give Allison and her team an idea of your situation. Not only can you avoid costly repairs, but the Whitestone team can also remove any unwanted items from the home or arrange a tax-deductible charity donation after the sale. Best of all, we can finalize the process in a little as 2 to 3 weeks.